The SET dropped sharply throughout the week on
sell-offs by institutional and foreign investors due to concerns over a
sooner-than-expected increase in interest rates as signaled by the Fed, the
prolonged and intensified outbreak of COVID-19 at home, the MPC’s downward
revision of its Thai economic growth forecast, as well as the possibility of
lockdown in some areas to control the spread of COVID-19. These factors fueled
widespread sell-offs in all sectors this week.